Dmseaman's  Instablog

GDP growth to be exact), this past decade has seen a record amount of excessive conspicuous consumption that is now responsible for killing the capitalist. It is only our own faults to not have seen this coming, when even you're your pool boy is cruising in the Escalade someone should have spoke up. Few did and they were ignored, more now speak up over the US repeating Japan's lost decade and still no one listens.

What this all boils down to is an inevitable and necessary retrenching of American wealth. It is implausible to solve a problem of excessive credit, by issuing more easy credit. Last I checked they don't hand out free Miller Lite at AA meetings.

At their most recent over leveraged apogee (IMG shot out) the financial companies can be blamed as primary contributors to our current crisis. "Individual responsibility" is no longer included in the American vernacular so lets all stop pretending. Their "green shoots", fraudulent 1st quarter earnings, and illegal manipulation to create the current "recovery" in equities are just a few clear examples to note. Despite what the CNBC cheerleaders and White House may tell you the banks are still in a load of trouble. From the mounting foreclosures in the prime mortgage markets, to an all time high in credit card defaults. On top of that are the billions of still unresolved toxic assets that even Dr. Seuss wouldn't touch with a ten foot pole.

To be quite honest I'd rather have the Ebola virus. To make some nice returns when this Goldman Sachs led curtain of Oz comes crashing down take a look at FAZ. The past 4 months during the "recovery" this ultra short position has been hammered. As the true economy is slowly revealed to the public (as of today from CA to PA tens of thousands of state employees are not being paid at all!). Also as of today Direxion just conducted a 1 for 10 reverse split which is sure to raise this position on traders radars.